Nofar Energy eyes 1.5 GW of wind, solar acquisitions in Romania

• Israeli renewables developer Nofar Energy Ltd (TLV: NOFR) has actually acquired a 73-MWp solar project in Romania as part of a broader plan to take possession of 1.5 GW of wind and also solar schemes in the Balkan country through 2023.

The latest acquisition includes in the company's 600-MWp renewable resource portfolio in Romania as of end-2022, it claimed on Tuesday. Its plans are to pour greater than EUR 500 million (USD 541.1 m) to complete already started projects within the next 2 years.

The 73-MWp photovoltaic (PV) project was bought from an unnamed party. It will be mounted in southerly Romania's Giurgiu County, on the border with Bulgaria, with its construction planned to commence in the initial half of 2023. Possibly, the park will be later increased to as much as 130 MWp, relying on the technological conditions.

Nofar entered the Romanian renewable resource market in 2021. It is presently dealing with the building of the 155-MWp Ratesti solar project, which remains in the final stages of building and construction as well as is planned to be powered up early this year. Plans are likewise in progress for a 255-MW solar facility in southerly Romania calling for an investment of EUR 135 million.

The whole capacity in Nofar's Romanian pipe is expected to come to be operational in 2024-2025, the company stated.